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Market Headstart: Experts see upside in Nifty, Sensex; focus on big earnings

The Nifty Midcap Index gained for the 8th straight day to post the longest gaining streak in 18 months

January 17, 2020 / 11:42 AM IST

Indian market hit a fresh record high on January 16. The S&P BSE Sensex surpassed Mount 42K, while the Nifty50 inched closer towards 12,400 levels.

Trends on SGX Nifty indicate a flat opening for the index in India, with a 16 points loss. The Nifty futures were trading around 12,355-level on the Singaporean Exchange.

Overnight, the S&P 500 rallied through the 3,300 mark for the first time on Thursday and the other key US indexes also surged to record highs, fueled by tech stocks, solid retail sales data and upbeat quarterly earnings from Morgan Stanley, said a Reuters report.

Back home, the S&P BSE Sensex hit a fresh record high of 42,059 while the Nifty50 hit a lifetime high of 12,389 on January 16. But, indices ended off record-high levels.